The message is the medium

Re: “Cryptocurrencies Will Be Banned When They Unsettle National Currencies”

December 13, 2015

Eugene Kaspersky: “I am beyond certain that different countries will try to forbid the use of cryptocurrencies, because they are beyond their control. Authorities will not pay attention, as long as [cryptocurrencies] do not pose a threat. When they [cryptocurrencies] start supplanting national currencies, they will be banned immediately.” – URL

How?

You cannot ban math, and ultimately Bitcoin is nothing more. If you’d like to ban “cryptocurrencies”, then how to define them? You’d also have to “ban” the very similar and popular tokens used in multiplayer games online, as well as almost all trade-able digital assets – otherwise how would the lawmaker distinguish between the already allowed “currencies” and the ones they don’t like?

Any country trying to do that would be left behind other jurisdictions who embrace the separation of state and money.

Anyway, it doesn’t really matter.

Bitcoin was designed (IMHO) with this particular “fight” in mind. What the incumbents (central banks) don’t understand (yet) is that Bitcoin and bankmoney can and will continue to co-exist also in the future (just like today). Bitcoin will just eat a bigger piece of the pie each year going forward.